Brands go broke in Greece
22.07.2011 1977

Brands go broke in Greece

Under the weight of the economic crisis and huge liquidity problems, companies are crumbling day after day in Greece, writes Immigrant Press.

Small and medium-sized businesses are primarily affected, but well-known brands are no exception. The company Lakis Gavalas, owned by the famous Greek fashion designer Lakis Gavalas, a few weeks ago, in accordance with the Bankruptcy Law Code, applied to the protection under 99 article in order to be able to manage its debts to creditors. A sharp drop in retail sales of clothes and shoes and poor financial management are considered the main reasons that led the famous fashion designer to such a development of events - a fact that impressed the Greeks: if the bankrupt is Gavalas, what about the rest ?!

The company Lakis Gavalas SA took over the Ministry of Economics, the Department of Economic Crimes: the company's debt on loans is 17,37 million euros, and the obligations on total payments to the state - 94,3 million euros.

The company, a pioneer of sales via the Internet, e-shop.gr, also applied for protection under 99. The same fate befell the famous and popular clothing and footwear companies Ridenco Commercial, Timberland, Nautica. In accordance with the state of the market, the situation will worsen if the liquidity problem is not eliminated as soon as possible.

Under the weight of the economic crisis and huge liquidity problems, companies are crumbling day after day in Greece, writes Immigrant Press.

Latest News

Landlords will be required to provide retail deferred payments

The Ministry of Economy has developed a draft decree of the Government of the Russian Federation, which approves the procedure for granting a deferral of rent, Kommersant writes.
07.04.2020 181

Retailers appealed to the President and the Government for support

Russian retail companies in the non-food sector sent a letter to Russian President Vladimir Putin and Russian Prime Minister Mikhail Mishustin aleatherg for business support in the current crisis.
07.04.2020 178

MBT Shoes responded to quarantine

The Russian online store of the Swiss brand of physiological shoes MBT continues to operate during the quarantine period. On the basis of two MBT stores in Moscow, points for issuing orders have opened, the site offers contactless services ...
06.04.2020 106

Tamaris included a line of sneakers in the fall-winter 2020/21 collection

The German brand of women's shoes Tamaris does not forget about today's sport-chic style and has included feminine and bright sneakers Tamaris Fashletics in its collection of the fall-winter 2020/21 season.
04.04.2020 442

Swims released knitted tops

The Norwegian brand of rubber shoes Swims continues to produce shoes made of non-rubber materials. Rather, the sole is still rubber, and the upper part of the women's Swims Breeze Tennis Knit sneakers is made of knitted fabric.
04.04.2020 300
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning